All Forum Posts by: Scott C.

 Thanks Michael, in our area the biggest driving factor is the school district. After that square footage and number of bedrooms drive home sales. The individual we purchased this house from had completely gutter the interior so we had no limitations on bedrooms or bathrooms

Lessons learned: Real Estate Agents really don"t understand investors. 

Having a good team in place will save a lot of time and aggravations. I am fortunate enough to have 30 years on remodeling experience and solid group of subcontractors that came along.

 We found this house on craigslist. It was purchased from a contractor who was trying to rehab it nights and weekends but ran out time and money.

OK, our first flip closed on Friday. This has been a great experience and I can't wait for the next one. Thank you Biggerpockets for all of the information freely shared.

Here's the deal:

Purchased for $32000.00

Rehab Cost    $62500.00 

Closing Cost  $6500.00

Sold   $152,000

It did take longer to sell then we anticipated but overall I feel this was a good deal.

We analyzed about 70 properties before we purchased this property. We also did a a lot of research on this neighborhood to find out everything we could before this we new knew about this property. I feel that preparation was key to this deal. 

A few pictures of before and after